GE Set to Exit Retail Lending

[BamaInvestor]

Got a few tradelines backed by the generous CLI-happy GECRB (like Amazon card, Walmart Card, PayPay Smart Connect, Chevron/Texaco Card, etc.)?

 

According to this CNBC article (from 2 days ago), GE is considering getting out of the the retail card business:

 

http://www.cnbc.com/id/100999070

Edited September 2, 2013 by BamaInvestor

[Allisson0605]

Oh No!!!!

[chicagorich]

Looks like a spin off, so there may not be much change to the accounts they issue.

[cashnocredit]

It's an IPO. It will operate the same as it is today if the IPO succeeds. The only impact will be a review of their credit policies and that is occurring now as the "get ready" for all the disclosure required for IPOing.

 

One good aspect of this is that we will have a great deal of visibility into how their credit ops work from ongoing SEC filings starting with the pre-IPO Edgar filings.

[hrguy]

Oh wow

[nooneimportant]

They have been trying to get out of the business since 2008 or so. If I remember correctly, they sold off one portion but were unable to find any other interested buyers. This must be plan B.